Physical Security Market Size, Share | Industry Report 2024

Global physical security market is around USD 6.7 Billion in 2015 and expected to grow at CAGR of 18% from 2016 to 2024.

The protection from the physical actions which may cause damages to the hardware, software, networks, data and personnel comes under the term called physical security. Globally, the rising security threats have directed the organizations to impose different security measures. Moreover, increasing terrorism activities around the globe and impending incidences of crimes have also fueled the growth of physical security market worldwide. The educational buildings, healthcare facilities, banks and other government buildings are the major target for the criminals. Hence, these require a more secure mechanism in order to lower down the damages.

The technological changes have led the organizations to be more prone to security breaches. Physical security not only talks about the external threats, it also ensures internal security within the organizations, such as accidents which would affect the working hours within the organizations. Most of the countries around the world are now focusing strictly on the physical security measures. Organizations have started spending more on physical security to minimize the losses caused due to security breaches.

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Key findings from the study: -
• Global physical security market is around USD 6.7 Billion in 2015 and expected to grow at CAGR of 18% from 2016 to 2024.
• The physical security market have evolve from simple locks to well managed biometrics
• The major application areas for the physical security market are Government & Public Sector, Telecom & IT, BFSI (Banking, Financial Services & Insurance), Education, transportation & Logistics, Manufacturing sector, Healthcare Sector, Retail Rector, Manufacturing sector and others

Ameri Research has segmented the Physical Security Market by material categories, product type, end-use and region:

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